Chapter 11 Bankruptcy for Mortgage Lenders Network USA, Inc.
It really is not a suprise, but Mortgage Lenders Network USA, Inc. filed for Chapter 11 bankruptcy protection today in U.S. Bankruptcy Court in Wilmington, Del. More than 7000 creditors and debts of more than $100 million are listed on their filing.
The filing is a sign that the talks with Wall Street firms to take over the wholesale operations have fallen apart.
Check out this story on Forbes.com for more infromation.
Technorati Tags: Chapter 11, Bankruptcy, Mortgage Lenders Network USA, MLN
